Shares of Trump media The stock continued to fall on Thursday, closing at a brand new low on Tuesday following the presidential debate between majority shareholder, former President Donald Trump, and Democratic Vice President Kamala Harris.
The stock fell 3.6 percent throughout the day to shut at $16.07 per share, the bottom closing price for the reason that company went public on the Nasdaq in March.
Shares of Truth Social's owner, which trade under the ticker symbol “DJT,” have fallen nearly 14 percent since Tuesday night's debate in Philadelphia hosted by ABC News.
The Harris team described the talk as a victory for the Democrat, as did experts and Strategists on each the political left and right. Trump has repeatedly claimed that he emerged victorious from Tuesday's confrontation.
But the slide in Trump Media shares – which regularly rise and fall in step with Trump's political success – suggests that investors is probably not convinced that Trump won the talk.
In a post on Truth Social on Thursday afternoon, the Republican candidate announced that he wouldn’t take part in any further debates.
Harris had challenged Trump to a runoff shortly after the candidates left the stage on Tuesday evening. But Trump, who claimed victory on Thursday, wrote, “THERE WILL BE NO THIRD DEBATE!”
This week's collapse within the DJT is the most recent chapter within the stock's months-long slide.
Trump Media's shares have fallen about 60 percent since their recent surge in July following the failed assassination attempt on Trump. Since merging with a special purpose acquisition company and going public in March, shares have fallen about 78 percent.
The former president owns nearly 57% of Trump Media's stock. Later this month, he can have the chance to sell his stake when lock-ups stopping him from selling his shares are lifted. It is unknown whether Trump will decide to sell or hold onto his shares.
After the stock market closed on Thursday, the corporate's market capitalization was $3.2 billion.
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